In an alarming article published recently by Business Insider, 2019 has represented a landslide of lost media industry jobs. For perspective, the article mentions that between 2014 and 2017, there were 5,000 jobs lost and in 2019 alone, there have been 7,200 jobs cut in the media industry.
Cutting jobs is not fun, as a former media executive who left to start Kreativa, I can certainly attest to how difficult reductions in the workforce can be. Not only do the people left without a steady income suffer, but the team left to pick up the workload is often also impacted, as more often than not the increase in workload does not directly correlate to compensation increases if any.
Often after “the dust settles”, fear creeps in and kills innovation, as very few would dare to try new things for fear of getting on the next chopping block. Organizations that go through reductions in the workforce must focus on seeding the right culture that will help them through the turnaround if they want to survive.
Outsourcing provides an excellent opportunity for organizations looking to reduce operating expenses to do so without leaving the surviving team members to pick up the workload left by the eliminated positions. Also, by outsourcing key operations, often fresh eyes can detect workflow inefficiencies which may be solved by new technology such as automation, machine learning, or artificial intelligence, which its implementation under a Nearshore structure is highly efficient as well.
Leveraging nearshore companies like Kreativa during these difficult times can help organizations maintain a spirit of innovation, which is exactly what is needed to be able to reinvent the business model, crucial for the long-term viability of the business.
At Kreativa we are uniquely qualified to assist Media companies to manage nearshore operations more efficiently than anyone else in the space, our team is formed by experienced media executives who truly understand nuts and bolts of running a media company.
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